Neysa, a Mumbai-based artificial intelligence (AI) cloud and platform-as-a-service startup, has raised $30 million (approximately ₹252 crore) in its latest funding round. The investment was co-led by existing backers, including US-based venture capital firm NTTVC, Z47 (formerly known as Matrix Partners India), and Nexus Venture Partners. This new capital will be used to scale up infrastructure and enhance research and development, aiming to make scalable AI solutions more accessible.
The recent funding follows a $20 million round in April. Neysa was founded in 2023 by Sharad Sanghi, also the founder of data centre services provider Netmagic, and Anindya Das. The company offers a suite of generative AI platforms and services to help clients manage their AI projects securely across cloud and edge environments. Its flagship platform, Velocis, was launched in July, providing on-demand access to high-performance computing infrastructure.
Currently, Neysa caters to around 12 clients, spanning sectors such as digital-first companies, media and entertainment, service providers, software vendors, and the public sector. The startup is witnessing significant traction from international markets, including the US, Europe, Japan, and the Middle East, and plans to expand globally while continuing to meet robust demand within India.
Sharad Sanghi, co-founder of Neysa, stated, “We anticipate a 200-300% growth next year, driven by strong market demand and a favorable demand-supply gap in graphics processing units (GPUs). The coming year will see our revenue nearly triple as we continue to expand our operations.”
Vab Goel, founding partner at NTTVC, commented on the investment, “Neysa’s innovative approach to generative AI solutions is making a substantial impact on the tech ecosystem. We have witnessed Sharad Sanghi’s success in building India’s largest data centre company, and his expertise is a crucial advantage in scaling this next-generation AI cloud provider.”
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